Bitcoin can be useful for a troubled economy

[acsaocham22]

This is true because there are still many countries with very difficult economies, and the government does not provide enough people with the necessary benefits. Their money is losing value. Bitcoin brings them a lot of useful. Blockchain technology will make their monetary system more smooth and less time-consuming.

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[suryana]

with bitcoin we can find a fairly decent income and the results obtained from bitcoin can help someone who is mired in the economy. So he's just from the economic downturn and indeed very many people who are already in bitcoin are getting better in terms of economy

I think that bitcoin is individually giving profit to people, bitcoin is in fact giving good financial assistant to them. In fact there are people who are jobless in really life but bitcoin gave them financial support and now they are leading a standard life.

I also feel how Bitcoin can change my economic problems be better. I'm sure in the future Bitcoin will more and more people are using Bitcoin as their fixed income.

[macarong998]

There are still many countries with economies in difficulty, and it would be better if all those countries work together to put together Blockchain and bitcoin technology in place of traditional money.

[Priaa165]

This is normal because we know that not all countries view bitcoin as a good opportunity. Some see it as a threat to the banking business for their country.

[onrise]

with bitcoin we can find a fairly decent income and the results obtained from bitcoin can help someone who is mired in the economy. So he's just from the economic downturn and indeed very many people who are already in bitcoin are getting better in terms of economy

I think that bitcoin is individually giving profit to people, bitcoin is in fact giving good financial assistant to them. In fact there are people who are jobless in really life but bitcoin gave them financial support and now they are leading a standard life.

When people make money or institution for that matter, it will be benefiting the economy only as they will pay tax on that profit. Also when the income increases people spend more thus this indirectly helps the other people as their product gets sold.

[olalaMaty]

I think that if the economy is hard, bitcoin is also a solution for them to have a knack for solving economic problems that make them think bitcoin is useful for socializing bitcoin more

[Golftech]

with bitcoin we can find a fairly decent income and the results obtained from bitcoin can help someone who is mired in the economy. So he's just from the economic downturn and indeed very many people who are already in bitcoin are getting better in terms of economy

I think that bitcoin is individually giving profit to people, bitcoin is in fact giving good financial assistant to them. In fact there are people who are jobless in really life but bitcoin gave them financial support and now they are leading a standard life.

When people make money or institution for that matter, it will be benefiting the economy only as they will pay tax on that profit. Also when the income increases people spend more thus this indirectly helps the other people as their product gets sold.

Taxes helps the economy so each time people succeed from this investment it will surely shares taxes though not directly but in terms of buying things using the profits coming from Bitcoin, and after using g exchange as the business itself required paying taxes from the government that they've belonged.

[icreative998]

Goldman Sachs: Bitcoin can be useful for a troubled economy

According to the report of Goldman Sachs, Bitcoin and other crypto-currencies can be a good alternative to the national currency for countries with an unstable economy.

 Analysts at Goldman Sachs Zack Pandle and Charles Himmelberg said that digital currencies and, in particular, Bitcoin, can become a viable means of payment in countries where traditional money is not sufficiently provided.

Goldman Sachs experts: crypto-currencies can help the troubled economy

I think bitcoin may be the kind of money that makes many countries free of inflation, which puts the nation's economic markets in a stalemate, and that's worth testing in developing countries but it's a bit hard. To test because the poverty of those countries is a big deterrent so everything is in the guesswork

[vessing]

To offer bitcoins (and crypto-currencies in general) as an alternative to the dollar for troubled economies is the same as offering to give bitcoin a role equal to the dollar in the world economy. The Federal Reserve will never allow this to happen, because this goes against the interests of the US more than anything else.

[ValerieBTC]

Countries in Africa will probably need bitcoin to help them improve their economies. There should be a common currency for these countries, bitcoin is very appropriate, but their government needs to cooperate with developed countries to change the economy.

And that is even possible to make happen by introducing Bitcoin in the continent. The ratio of people living below the poverty line is very high and this lead majority of them into crime and many illegal activities and many  of them end up in jails or in worst health and mental condition so it is a dire moment for introducing Bitcoin into such low income people who might be able to use it for their welfare and to improve their living standards.

[coinplus]

Countries in Africa will probably need bitcoin to help them improve their economies. There should be a common currency for these countries, bitcoin is very appropriate, but their government needs to cooperate with developed countries to change the economy.

And that is even possible to make happen by introducing Bitcoin in the continent. The ratio of people living below the poverty line is very high and this lead majority of them into crime and many illegal activities and many  of them end up in jails or in worst health and mental condition so it is a dire moment for introducing Bitcoin into such low income people who might be able to use it for their welfare and to improve their living standards.

I think that is happening lately with crypto getting bigger. I mean tobacco companies pay politicians to help them out on health issues, whereas weed is even less harmful than cigarettes we see that everyone smokes cigarettes but weed is legal in only some places. We see internet companies getting paid in billions from tax money and fail to deliver their promises but they use that type of money into politicians. We see many companies lobbying.

Well, crypto is getting bigger and we may soon see that wall street people who bet on crypto and hope for it to go up will soon lobby politicians to keep it legal and tax it cheaply so they can make money off it. Bitcoin is a proven way of supporting for the countries that have failed with traditional economic practices. Hence, we may see many countries to adopt bitcoin in coming days due to this reasons.

[gaidarpop]

That is common sense and does not require some big company to validate. It simply helps middle class to enhance their income.

[galkinado]

The politicians need to realize this. The countries banning it are doing harm to its own people.

[rizky_big]

maybe it depends on each country how to react to it. if the country supports the existence of bitcoin by making policies and rules that can make bitcoin develop, it can be able to solve the country's economic problems. because of bitcoin future prospects

[Haliburton]

To offer bitcoins (and crypto-currencies in general) as an alternative to the dollar for troubled economies is the same as offering to give bitcoin a role equal to the dollar in the world economy. The Federal Reserve will never allow this to happen, because this goes against the interests of the US more than anything else.

Maybe. But if Bitcoin becomes widely popular around the world, then it could become a nice alternative to fiat. In troubled times where, real world currencies experience the dreaded inflation rates, there's the choice to protect your capital with Bitcoin. As such, I think that Bitcoin will be compared to Gold in the future, due to its scarcity and unmatched security. Bitcoin has many benefits beyond that of Gold, since it provides portability and even fungibility (with privacy upgrades of course).

National currencies may still exist in the future, but decentralized coins like Bitcoin and Ethereum will become the safe-haven for people looking to preserve their financial future. And since Bitcoin is deflationary by design, they'd get more spending power over time as it becomes more valuable each day. One good example is the case of Venezuela, where its citizens have chosen Bitcoin as an alternative to their flawed economic system. The Bolivar currency has experienced a hyperinflation, leaving Venezuelans with no choice but to adopt Bitcoin as their currency for daily payments. Since Bitcoin gives them a lot of spending power over the Bolivar currency, it's no wonder why it's so popular in that country.

Therefore, Bitcoin can be useful as a safe-haven asset in times where you cannot depend on fiat for your daily needs.

[laracastvue]

That is common sense and does not require some big company to validate. It simply helps middle class to enhance their income.

Yes i do agree on that, bitcoins is helping different people in order to have a wealthier life and that is the reason why cryptocurrency should not be banned on countries.

[slyfox]

I agree, bitcoin can overcome or be useful in overcoming a troubled economy. because it can provide income for those who do not have a job or those who have a regular job as additional income.
hence they will not have difficulty in economic terms, especially basic needs or daily needs. and very beneficial for those who have low and medium economy and bitcoin is very helpful to them.

We are seeing bitcoin helping people in countries with problems with their economies already this happened in Argentina some time ago and now it is happening in Venezuela, and when an economic crisis strikes again the world, we are going to be ready and we are going to have a currency which is at least decade old and that will grow in usage thanks to those failed economies.

In term of a whole country, I'm not so sure whether bitcoin would brighten a nation's economic situation since its price is unstable and unpredictable and it also depends on whether that country's government is willing to accept bitcoin. But for those who is struggling to make a living, bitcoin would be a brilliant choice since it can fulfill their basic needs and provide them with a considerable amount of profit. I have seen many of my friends who used to live on the breadline have become richer and led a successful life thanks to bitcoin.

We still have not seen bitcoin being adopted and used by a full country but that is because it did not had the chance to do so, but in the future once the economies of the world collapse it is going to have the chance to do it, we do not know if it is going to be successful but people at that point will be so desperate that they will try to find a way to make it work.

[Vorzlave]

Bitcoin nowadays isn't a good choice under troubled economy. It is more likely a store of value, an asset for investment but not as a medium of exchange because it not efficient. The network is too slow. Alts in the other hand can fill the downsides of bitcoin's network, alts like ripple, dash and litecoin which has a fast network for transactions and more efficient compared to bitcoin today.

[redsun114]

Countries in Africa will probably need bitcoin to help them improve their economies. There should be a common currency for these countries, bitcoin is very appropriate, but their government needs to cooperate with developed countries to change the economy.

And that is even possible to make happen by introducing Bitcoin in the continent. The ratio of people living below the poverty line is very high and this lead majority of them into crime and many illegal activities and many  of them end up in jails or in worst health and mental condition so it is a dire moment for introducing Bitcoin into such low income people who might be able to use it for their welfare and to improve their living standards.

Exactly and this is visible from the fact that the quantity of dollar in circulation outside United States is far more than the quantity of dollar in circulation inside the US.

Besides, the more the demand for the US dollar in the world, the more will the value of dollar rise and this is the reason why America turned against Iraq’s Saddam who intended to trade with Germany for oil in Euros and not in dollar. So yes the Federal bank will never let it happen because it is against their political and economic interest.

[Haliburton]

Yes i do agree on that, bitcoins is helping different people in order to have a wealthier life and that is the reason why cryptocurrency should not be banned on countries.

Yes sir! Bitcoin enables a worldwide economy like never, allowing anyone to quickly find a job or employment without middleman. In times where there is economic instability, people can turn themselves to using Bitcoin for their daily needs. Governments can also benefit from Bitcoin as it's a highly scarce cryptocurrency. By taxing it, they can help grow their local economy as Bitcoin grows.

Therefore, ever since Bitcoin was created, it has enabled people to gain control over their finances by giving them new job opportunities or simply a safe and secure way to protect their capital against inflation, which is ideal for a troubled economy